The U.S. government’s attempt to crack down on Internet gambling is widely seen as a convoluted mess. Yet, more controlled and defined regulation would likely benefit the $41 billion industry and protect consumers alike, finds a new study by Michigan State University business scholars. The study is the first to estimate the costs and benefits of the Unfair Internet Gambling Enforcement Act, which was signed into law by President George W. Bush in 2006. Despite ongoing uncertainty and confusion stemming from the law, the industry has reacted positively, with the value of publicly traded online gambling firms increasing nearly 3...